About Jammu and Kashmir Bank

Jammu and Kashmir bank has been formed in the year 1938 and the bank was founded under letters patent issued by Maharaja of Jammu and Kashmir, Hari Singh. He invited the investors to invest in the bank and become the shareholders for the same. The bank has been set up with the capital money by the government and partly by the public under the government control and hence, it is called as the semi-government bank.The bank commenced the operation in the year 1939. The bank has started with the mission to provide the best quality banking products and services to the people of the state of Jammu and Kashmir.

The bank has been sponsoring the Jammu and Kashmir Grameen bank. It is one of the banks which is growing and spreading its network by increasing the branches number in different cities in the country. The bank has a total number of 865 branches and 1035 ATMs in the country. Its vision is to provide the international standard of products and services to the customer and become the super specialty bank in the country. The bank aims to increase its profit and branches to emerge as the major banks in the country. It aspires to become the best and most preferred bank in the country.

Products Offered by Jammu and Kashmir Bank in Ahmedabad

Jammu and Kashmir bank has all types of services and products that can be used by the customer to fulfill the financial requirements. The loan products include the home loan, personal loan, car loan, education loan, and loan against property. The services include the deposit facilities, insurance, and mutual funds. It offers the best quality of service and banking facilities.​

Basic details about Jammu and Kashmir products

Product

Eligibility

Loan Amount

Interest Rate

Processing Fee

Tenure

Personal loan

The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.The minimum net annual income of the applicant should be ₹ 3,00,000 per annum.The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization. 1 year relationship with the bank.

₹1.50 lakh

12.30% - 14.30%

1% of the loan amount + service tax (as applicable)

36 months

Home loan

The applicant should be at least 18 years of age at the time of application and the maximum age should be at least 70 years at the time of loan maturity.

The applicant should be salaried individual working in the state or central government,PSU’s, reputed companies, self- employed, professional, businessman,and retired individual of state/central government or Public sector undertaking.

The applicant can be the person engaged in the agricultural and allied activities.

The minimum work experience should at least be 3 years of service for the salaried individual and for the self- employed minimum 3 years of service in the current business or profession.

For construction- Up to 36 times of the net salary.

For purchase of land- Maximum up to ₹ 50 lakh or 60% of the total cost of the land whichever is less.

For repairs & renovations - Up to ₹ 25 lacs

8.75% - 9.05%

0.25% of the loan amount

30 years

Education loan

The student should be the resident of India.Should have secured the admission through entrance exam/ merit based selection.The student should have the guarantor/ collateral.

For India:₹ 10 lakhFor abroad: ₹ 20 lakh

10.40% - 11.65%

Nil

Moratorium: course period + 1 year 0r 6 months after getting the job.

Up to the period of 15 years after moratorium period.

Car loan

The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.

The minimum net annual income of the applicantshould be ₹ 3,00,000 per annum for salaried

The minimum net annual income should be ₹ 4,00,000 for the professional and person active in agricultural and allied activities.

For others the minimum annual net income should be ₹ 5,00,000

The applicant should have at least 1 year of work experience at the current employment.

36 times of the net monthly salary or 3 times net annual income.

For contract private employee and retired pensioners- 24 times of the monthly salary or 2 times net annual income

The documents required by the individual, Hindu undivided family, and sole proprietorship at the time of applying for the fixed deposit areA coloured photographPassport/ Driving LicenseLast six months bank account details

Documents required from the trust, association/ clubs for the fixed deposit are as followPhotographs of the member operating the account.A Copy of the Trust Deed/ Bye- laws of the association.A Copy of registration certificate.A Copy of the resolution of trustee authorizing the member to operate and open the accounts.

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